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Evaluation of land value capture for financing transportation infrastructure development in Sri Lankan cities

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dc.contributor.author Perera, MTU
dc.contributor.author Noorden, R
dc.contributor.editor Gunaruwan, TL
dc.date.accessioned 2022-04-08T05:42:45Z
dc.date.available 2022-04-08T05:42:45Z
dc.date.issued 2020-11
dc.identifier.citation Perera, M.T.U., & Noorden, R. (2020). Evaluation of land value capture for financing transportation infrastructure development in Sri Lankan cities [Abstract]. In T.L. Gunaruwan (Ed.), Proceedings of 5th International Conference on Research for Transport and Logistics Industry 2020 (p. 6). Sri Lanka Society of Transport and Logistics. https://slstl.lk/r4tli-2020/ en_US
dc.identifier.uri http://dl.lib.uom.lk/handle/123/17596
dc.description.abstract Transportation-based infrastructure development has become a crucial element in urban milieu. In developing nations, financing transportation infrastructure development has been under pressure due to high cost of compensation, construction and maintenance. However, efforts to improve transportation facilities often focus on ill-suited sources of financing, often involving massive debt, with limited attention to the potential contribution of alternative financial models in financing infrastructure development. This paper seeks to bridge this gap by tracing linkages between financing, transportation and land use systems and how these connections can inform policy development. This will assist governments to achieve positive outcomes for financing transportation infrastructure development in particular projects. This study is bult around the theory of land-based value capture in order to explore whether there is any alternative opportunities for infrastructure financing in Sri Lankan cities. By applying this theory, a four-step framework was introduced and validated through the case of Kottawa – Makubura Multi Model Transport Centre Development (MMC) and highway development projects. This framework mainly considered the existing regulatory framework to identify suitable alternative financing opportunities. In addition, it conducted an infrastructure beneficiary analysis to identify beneficiary groups in new developments. As the next stage it analysed the property value impacts through the hedonic pricing method. Findings indicated significant value increments (of around 20%) taking place within a 500m radius of new transportation developments, with lower impacts at distances of 1km and 2km from a given development. It verified that locational factors are the most influential factors in increasing residential property values pursuant to development of new infrastructure. Finally, it was proposed to adopt an active funding policy. The framework was validated by selected practitioners in the field. Accordingly, the conceptual framework developed will accommodate future studies related to land-based value capture. en_US
dc.language.iso en en_US
dc.publisher Sri Lanka Society of Transport and Logistics en_US
dc.relation.uri https://slstl.lk/r4tli-2020/ en_US
dc.subject Land value capturing en_US
dc.subject Transportation infrastructure development en_US
dc.subject Hedonic pricing model en_US
dc.subject Residential properties en_US
dc.title Evaluation of land value capture for financing transportation infrastructure development in Sri Lankan cities en_US
dc.type Conference-Abstract en_US
dc.identifier.faculty Engineering en_US
dc.identifier.department Department of Transport and Logistics Management en_US
dc.identifier.year 2020 en_US
dc.identifier.conference 5th International Conference on Research for Transport and Logistics Industry 2020 en_US
dc.identifier.place Colombo en_US
dc.identifier.pgnos p. 6 en_US
dc.identifier.proceeding Proceedings of 5th International Conference on Research for Transport and Logistics Industry 2020 en_US
dc.identifier.email hariperera44@gmail.com en_US


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